Yes, the TCC (Torque Converter Clutch) can do that. Remove the TCC fuse and see if the problem stops. With the fuse removed the vehicle won't go into overdrive but it should not stall at a light.
check your alternator
I had a problem with stalling with a 2000 Impala, and it was the oxygen sensor.
When the car stalls out, depending on speeds, you can strip part of your transmission. (Basically break the tranny). Most stalls are stripping and what not when it comes to stalling, also I'm pretty sure you can short out some of the systems inside the vehicle.
You have a vacuum leak somewhere. Also check for DTC's. (Diagnostic Trouble Codes)
The light comes on when the car stalls because the engine is not running and the pump therefore is not pumping. The pressure will always be 0 when the engine stalls and the light is directly related to pressure. This is normal, you have no problem, other than the engine stalling.
if you do have gas in the car then it could be the idle control valve. it stops the engine from stalling when the car is stationary
Shift into park or stop at lights and stalls etc could be a bad fuel filter.
Paul A. Craig has written: 'Stalls & spins' -- subject(s): Spin (Aerodynamics), Stalling (Aerodynamics) 'Pilot in Command (Practical Flying)' 'Stalls & Spins' 'Be a Better Pilot' -- subject(s): Airplanes, Piloting
Scrap it!
I have espace 220 cdi it stalls some times on idle does some know what the problem is regards Brian
Idle Air control valve
My 2000 Sonoma did the same thing. When the computer was plugged into it it showed no problems. Finally after several stalls the computer finally showed the accelerator position module was bad. I replaced that and no more in traffic stalls.